Reprinted with permission from Shareblue.com
Trumpâs decision to launchÂ a trade warÂ against key American allies has prompted German Chancellor Angela Merkel toÂ work on an international intervention to stop him.
MerkelÂ proposedÂ an international forum that would allow for a âshared evaluation mechanism,â which would be organized around the notion.
French President Emmanuel Macron and European Commission President Jean-Claude Juncker reportedly back the idea.
Trumpâs announcement of retaliatory tariffs on steel and aluminum tariffs are going to hit Canada, Mexico, Japan, and the European Union. He also has threatened to levy tariffs on Chinese goods.
Instead of backing down, as Trump said they would, several of those countries are nowÂ levyingÂ increased tariffs on American goods.
The result is that American goods are now at a disadvantage on the global marketplace. Instead of purchasing artificially expensive American goods, consumers are buying their products elsewhere.
The loss of business is hurting American producers, particularlyÂ farmersÂ in many of the âredâ states that backed Trump in 2016.
Republicans in Congress have slammed Trumpâs trade war,Â callingÂ it âdamagingâ and âdumb.â
Tennessee Sen. Lamar AlexanderÂ calledÂ the tariffs âbasically higher taxes on American consumers,â adding, âThis is a big mistake.â
Some Republicans haveÂ proposedÂ measures to limit Trumpâs trade powers as they fear a blowback for his tariff policy.
Trump is prompting unnecessary disruption with allies, businesses, and individual American entrepreneurs. Yet an unreleased internal White House analysisÂ revealsÂ that reveals the tariffs are bad for business and the American economy.
Merkel is trying to stop him. Republicans are trying to stop him. But Trump is creating chaos and hardship the world over.
Published with permission of The American Independent